Lockheed Martin (NYSE:LMT) Shares Gap Up – Here’s Why

Lockheed Martin Co. (NYSE:LMT) gapped up before the market opened on Friday . The stock had previously closed at $466.74, but opened at $478.09. Lockheed Martin shares last traded at $478.18, with a volume of 560,232 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Barclays lowered their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Susquehanna lowered their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. Finally, StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Lockheed Martin Price Performance

The company has a fifty day simple moving average of $461.50 and a two-hundred day simple moving average of $516.12. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The company has a market capitalization of $102.32 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, research analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 3.04%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.14% of the company’s stock.

Institutional Trading of Lockheed Martin

Several institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the 3rd quarter worth $26,000. Millstone Evans Group LLC purchased a new stake in Lockheed Martin during the 4th quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new stake in Lockheed Martin during the 4th quarter worth $34,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter worth $35,000. Finally, Redwood Park Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter worth $40,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.